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Chainlink’s (LINK) Price Surges by +6% After the FOMC Announcement

Published 27/07/2023, 12:45
Chainlink’s (LINK) Price Surges by +6% After the FOMC Announcement

  • Yesterday, LINK was retesting the support level at $7.539 in anticipation of the FOMC announcement.

  • At press time, LINK was worth $7.97 after its price surged by more than 6% over the past 24 hours.

  • If LINK can close today’s daily candle above the $7.539 support, it may look to challenge the next major resistance level at $8.420.

A promising retest was underway for Chainlink (LINK), showing considerable strength and potential, according to a Twitter post shared by renowned crypto trader, Michael van de Poppe yesterday. The question on everyone’s mind was whether this latest retest would yield different results.

https://twitter.com/CryptoMichNL/status/1684179898468909057/

The market was experiencing the pre-FOMC fear phase, where caution and uncertainty prevailed. Additionally, many experts anticipated that this apprehensive period will transition into a period of upward momentum after the FOMC concludes.

This seemed to have been the case as many cryptocurrencies saw their prices rise over the past day of trading. LINK was one of these tokens as its price surged by more than 6%., according to CoinMarketCap. This left the altcoin trading hands at $7.…

The post Chainlink’s (LINK) Price Surges by +6% After the FOMC Announcement appeared first on Coin Edition.

The post Chainlink’s (LINK) Price Surges by +6% After the FOMC Announcement appeared first on Coin Edition.

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